Skechers Stock Pops on Encouraging Earnings: What You Need to Know
Skechers (NYSE: SKX) stock traded up almost 14% in after-hours trading last Thursday before settling up about 4% by the end of the day Friday after a strong fourth-quarter earnings report that beat consensus projections.
The footwear company cited strength from the chunky-shoe trend and international growth. Skechers reported fourth-quarter earnings of $0.39 a share, in line with the consensus estimate, which represented a 26% increase year over year. Revenue for the quarter was $1.3 billion, above the consensus estimate of $1.2 billion. Comparable store sales (in company stores and e-commerce) showed a nice uptick, increasing 9.9% in the quarter, up from 7.7% in the third quarter and 1.1% in the fourth quarter of 2018.
Here are three takeaways from the earnings report that investors might benefit from knowing.
Source Fool.com
